Montney Shale Formation Update: British Columbia Canada

By Tim - http://oilshalegas.com

Canadian Spirit Resources Inc. (CSPUF.PK) has recently updated shareholders on the Montney Shale located in British Columbia, Canada.

The joint venture increased its Montney rights from 47 sections to 51 sections (gross). CSRI now has approximately 30 net sections of Montney rights in the Farrell Creek area of northeastern British Columbia.

The Operator, Canbriam Energy BC Partnership ("Canbriam"), continues to progress with the $49.0 million (gross) capital program for 2010.

The c-A48-I well was stimulated in the lower portion of the Montney Formation. With only two stages flowing, the well had an initial production rate of 3.5 mmcf/d, and a stabilized rate of 2.0 mmcf/d over a seven day period.

An additional upper Montney horizontal leg will also be drilled and completed from the existing wellbore at c-A48-I by year-end.

The first of two horizontal wells targeting the upper portion of the Montney Formation has been drilled and cased from the c-18-I pad. A second well, from the same pad, is currently being drilled. It is expected that this second well will be drilled and cased by the end of September, with both wells to be stimulated in October.

A gas facility is expected to be commissioned during the fourth quarter of 2010. It will have an initial capacity of 10 mmcf/d and will be scalable to 50 mmcf/d.

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Halliburton HAL 3rd Quarter Earnings .76EPS - Montney Shale, Bakken Shale

Halliburton ( HAL ) released 3rd quarter earnings this morning 10/20/08 and provided updates on the Montney Shale of Canada and the Bakken Shale of North Dakota.

For the third quarter, HAL earned .76 Earnings per share.

In Canada's Montney shale play, Halliburton completed its 50th horizontal CobraMax(R) job. The CobraMax(R) process now averages less than eight hours per zone from cut to cut, an improvement from over 24 hours on earlier wells.

Halliburton has set its 900th Swellpacker(R) isolation system in horizontal Bakken wells in the Williston Basin. The use of this packer system has allowed operators to compartmentalize their wellbores for fracture completions resulting in improved production. Delta Stim(R) sleeves are also used with the Swellpacker(R) systems greatly reducing the time required to complete a well.

For a full earnings calendar - visit - http://blackberrystocks.com